Q: Good morning. I have held Canoe EIT Income Fund since 2016 and it has averaged 11% annually. My goal is yield so I have been quite happy. I am currently reinvesting the distributions, but plan to eventually withdraw them to help fund my retirement. My EIT.UN holdings are now approaching 7% of my portfolio value and I was hoping to find something similar but different, for diversification. I know you have mentioned in the past that the fund is decent but has some drawbacks like a high MER. Could you provide some other options please? Thank you.
5i Research Answer:
It is tough to find an 11% yield, but some covered call funds can offer this, or more, depending on the category. QMAX (tech) has an indicated yield of 11.6% (it will vary). SMAX (US large cap) is 10.89%. ZWU (utilities) 8.29%;